Material Uncertainty Regarding Continuation As A Going...

Material Uncertainty Regarding Continuation As A Going Concern
Without qualifying our opinion we draw attention to note 1(a) in the financial report which indicates that for the year ended 30 June 2009 the company and consolidated entity had, operating losses of $16,523,800 and $37,192,187, accumulated losses of $86,414,954 and $95,473,755, a net current asset deficiency of $5,945,185 and $9,312,508 and negative cash flow from operating activities of $6,511,021 and $25,147,069, respectively. These conditions, along with other matters as set forth in Note 1(a) to the financial statements, indicate the existence of material uncertainty which may cast significant doubt about the ability of the company and the consolidated entity to continue as going concerns, and therefore whether they will be able to pay their debts as and when they fall due and realise their assets and extinguish their liabilities in the normal course of business and at the amounts stated in the financial report.